Richard purchased some Australian shares a number of years ago. In 2016, he instructed his broker to sell those shares but discovered he no longer owned them.
As members of a dairy co-operative, Reggie and Regina held 180,000 shares equal to their farm’s production of milk solids. Reggie and Regina’s dairy farm’s production dropped over a few seasons and they asked the dairy co-operative if they could redeem some of their ‘dry’ shares. The dairy co-operative refused to accept the surrender of Reggie and Regina’s ‘dry’ shares. Was this fair and reasonable?
Kevin and Karen had sold their kiwifruit orchard and decided to leave the kiwifruit industry. They contacted their kiwifruit growing co-operative company to sell their shares back to the co-operative. The co-operative was happy to redeem Kevin and Karen shares but would not make payment for 5 years. Was this reasonable? And what more could Kevin and Karen do?